# MAGIC VALLEY S&LA

> **Failed bank** · WESLACO, TX · failed 1987-01-16 · SL · FDIC cost $161M

## What happened

MAGIC VALLEY S&LA of WESLACO, TX was closed by state regulators on **1987-01-16**. The FDIC was named receiver.

**Resolution:** A/A

Deposits were transferred to **SAN ANTONIO FSB** (WESLACO, TX). Customers became depositors of the acquiring bank automatically.


## Key facts

- **FDIC ID:** 1343
- **FDIC Certificate:** 31598
- **FDIC FIN:** 1701
- **Bank name:** MAGIC VALLEY S&LA
- **Location:** WESLACO, TX
- **Failure date:** 1987-01-16
- **FDIC resolution date:** 1987-01-16
- **Charter type:** SL
- **Resolution type:** A/A
- **Estimated FDIC DIF cost:** $161M
- **Deposits at failure:** $117M
- **Assets at failure:** $103M
- **Acquiring bank:** SAN ANTONIO FSB (WESLACO, TX)

## Primary source

FDIC BankFind failed-bank search: https://banks.data.fdic.gov/explore/failures?searchName=MAGIC%20VALLEY%20S%26LA

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, MAGIC VALLEY S&LA (FDIC ID 1343), failed 1987-01-16. Retrieved via AI Analytics 2026-07-04 from https://api.ai-analytics.org/failed-bank/1343.

---

*[FDIC failures dataset](/datasets/fdic-failures) · CC0 1.0*